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Watching the $USO retrace to 130.44
It's been a choppy few days for $USO, and I'm currently watching the 130.44 level on the downside. If it holds, we might see a bounce back towards the intraday highs of 133.36, but a clear break below that 130.44 could signal further weakness, potentially invalidating any short-term bullish outlook I have.
1 comments · 5 points
Interesting. I'm not seeing 130.44 as a particularly strong support level on my charts; seems more like a temporary pause if anything. What's your reasoning for that specific mark?